Home Prices in Nevada Grow at Break-Neck Speed!

The top five states leading home price appreciation are all out west, according to CoreLogic, which analyzed four individual home price tiers calculated relative to the median national home sale price recently. 

The analysis revealed that the lowest price tier increased 9.4 percent year over year compared with 8.1 percent for the low- to middle-price tier, 7.1 percent for the middle- to moderate-price tier, and 5.7 percent for the high-price tier. 

Among the 25 highest-appreciating states along with their highest and lowest historical price change, the analysis found that four states that showed double-digit increases were all in the West. While Nevada showed the largest gain of all states increasing 12.6 percent year-over-year, Washington with an increase of 12.1 percent in home price appreciation, Idaho with 11.5 percent, and Utah with 10.4 percent appreciation were among the other states on the West coast where home prices appreciated the most. 

The analysis also looked at states that had a larger peak-to-trough decline than the national average. It found that California, Idaho, and Michigan had all surpassed their pre-crisis home price appreciation peaks in June. 

Connecticut led the states where home prices in June were the farthest below their all-time home price appreciation high. Home prices in the state were still 17.6 percent below their July 2006 peak, the analysis revealed. Prices in 38 states (including the District of Columbia) have risen above their pre-crisis peaks, the analysis found. 

The analysis, which was based on the recently released CoreLogic Home Price Index found that the overall HPI had increased on a year-over-year basis every month since February 2012. it had gained 57.3 percent since hitting its bottom in March 2011. In June 2018, the overall HPI was 5.2 percent higher than its pre-crisis peak in April 2006. However, when adjusted for inflation, home price appreciation remained 13.3 percent below their April 2006 peak

Skip Rueger

NMLS# 1213071

m:  702 326 1949

Yorkshire Mortgage Corp., NMLS# 1396979 10115 W Twain Ave #110, Las Vegas, Nevada 89147

Letter from Senator in Response to Mortgage Interest Deduction

Dear Mr. Physioc:

Thank you for writing to me regarding the changes to the mortgage interest deduction and other proposals affecting homeowners in the tax reform bill. I appreciate hearing from you on this important issue.

As you may know, Republican members introduced their tax reform proposal in November 2017. This legislation was drafted behind closed doors and without bipartisan input from their colleagues in   both   the House   and Senate. Rather than lowering taxes for working and middle class families and keeping our federal deficit in check, the bill passed in Congress neglects the needs of average Americans. The biggest winners in this legislation are corporations whose federal tax rates were cut by fourteen points. Estimates by the non-partisan Joint Committee on Taxation say that   nearly half of all Americans can expect a tax hike by 2027. Lower and middle-income taxpayers will bear the burden of paying for taxes that benefit corporate interests and shareholders.

As Attorney General of Nevada, I saw firsthand the devastation caused by the financial crisis on our state. Thousands of Nevadans lost their homes and even more were left with "underwater" mortgages, where borrowers owed more on their house than the value of the property. Though our economy has rebounded, many Nevadans still face the consequences of the crisis today.   As your United States Senator, I am committed to ensuring all Nevadans have equal opportunity to build a prosperous life. 

This legislation fails to enable and assist Nevadans in achieving the dream of homeownership or helping homeowners stay in their homes. Analysis by the Joint Committee on Taxation found that roughly one-fifth of taxpayers would end up paying higher taxes under the plan proposed by the House of Representatives. I support   keeping the mortgage interest deduction, which  is an important component to ensuring all Americans are able to afford a home. Current proposals changing the mortgage interest deduction in the tax code discourages homeownership for younger Americans and punishes families and seniors that pay their monthly mortgage bills by threatening to decrease the value of their homes. In 2015, more than 240,000 Nevada tax filers deducted their mortgage interest payments from their taxes.

I strongly believe that every American deserves the chance to fulfill the American dream of homeownership without unnecessary burdens. This tax plan fails to achieve that goal. Smart tax reform should enable all Americans to do so and support the economy through job creation, investment and development. Please rest assured that I will continue my work in Washington to find real bipartisan policy solutions with the goal of keeping Nevada families in their homes, ensuring that more citizens have a chance at homeownership and stabilizing communities. As I continue to work for Nevadans in Congress, I will remain mindful of your views.

Thank you again for contacting my office.    Please continue to share your thoughts with my office for the betterment of our state.    If I can be of service to you in any other way, please do not hesitate to let me know.

Sincerely, Catherine Cortez Masto United States Senator

LAS VEGAS  333 Las Vegas Boulevard South Suite 8016 Las Vegas, NV 89101 (702) 388-5020 Fax: (702) 388-5030

RENO  400 South Virginia Street Suite 902 Reno, NV 89501 (775) 686-5750 Fax: (775) 686-5757

WASHINGTON, DC  204 Russell Senate Office Building  Washington DC 20510 202-224-3542

Australian developer plans $800 million extreme sports park near Town Square

By ELI SEGALL
LAS VEGAS REVIEW-JOURNAL

Josh Kearney has the plans, the site lined up and, he says, the money. And after upping his vision for an extreme sports park in Las Vegas, he wants to start building.

Kearney, a 37-year-old Australian who says he lives here and in Los Angeles, has filed plans with Clark County for a dirt biking/surfing/wakeboarding/rock climbing/hotel project south of the Strip. It will be called The Edge, he says.

He’s looking to start construction in April or May, he told me this week, and to finish within 2½ years of the groundbreaking. The total price tag, he said, is probably $800 million.

Needless to say, it’s a massive project.

Plans filed with the county show a 130-acre project at the southeast corner of Las Vegas Boulevard and Sunset Road, across the street from the Town Square retail hub in one direction and McCarran International Airport runways in the other.

It would include off-road dirt biking areas, wakeboarding lakes, surfing lakes, an indoor mountain-biking track, indoor skydiving, rock climbing, bungee jumping, zip lines and a 15-story, 640-room hotel with a casino, convention space, restaurants and two rooftop swimming pools.

The lakes and pools would need an estimated 65.8 million gallons of water, according to the planning documents.

All told, Kearney said: “No one’s done a park like this.”

Las Vegas is filled with super-sized real estate projects, and if Kearney pulls it off, his will pump some sports-oriented excitement into the valley’s tourist scene, the bedrock of the local economy.

But, in a town with a lengthy history of investors pitching huge projects and never building them, plans like Kearney’s sound all too familiar. Will his be another addition to Las Vegas’ ever-growing list of projects-that-never-were?

Asked what he would tell skeptics or critics who think his project will never get built, Kearney said he’s fully devoted to opening it.

He’s filed stacks of architectural and other plans with the county, and Kearney said he’s spent a “substantial amount of money” on the project, though he did not say how much. He also said he doesn’t need financing.

“My every passion, every intention is to build this thing,” he said.

Kearney said he’s an engineer who has developed projects in Australia, and that he comes from a family of developers. He also has pitched a sports park here before.

He unveiled plans in 2013 for a 40-acre park called Vegas Extreme, which, according to a news report at the time, would cost $50 million and feature wakeboarding, motocross, zip lines, surfing and other activities.

According to the report, he needed financing and a place to build the attraction.

In February 2016, his group announced that Vegas Extreme Park, as it was called, had found a home “on the Las Vegas Strip.” The 90-acre project would include two wakeboarding lakes, electric dirt bikes, surf ponds, rock climbing, indoor skydiving and beach cabanas, the announcement said.

He previously planned to lease the project site but now intends to buy it, he said.

“It’s just evolved into a much bigger creature than it was originally,” Kearney said this week.

Still, his theme park isn’t the only one on the drawing board these days.

Genghis Cohen, owner of shooting range Machine Guns Vegas, says he aims to break ground by September on XPark Las Vegas in Sloan.

Plans for the project a few miles south of the M Resort have called for an ATV and dirt-bike obstacle course, a 180-foot bungee tower, a speedboat area with man-made channels and a shooting range.

Cohen said in September that the park would cost $25 million to $30 million.

He told me this week that project elements would be built and assembled off-site and that he hopes to open XPark by the end of this year, “God and county willing.”

Will Las Vegas have two new places for high-octane excitement? Time will tell, but one thing’s for sure: It’s never boring to see what people are cooking up, even if the meals are never served.

Contact:

Philip Physic 

Choice One Properties & Management

7465 W. Lake Mead Blvd.,Suite 100

Las Vegas NV 89128

Cell: (702) 822-0237

Email: psp112005@yahoo.com

www.UniqueOpportunityRealEstate.com

A Sneak Peek into Some of the Top Las Vegas Neighborhoods

Las Vegas luxury communities pave the way for fine living, exhilarating recreation and myriad forms of pleasure that are difficult to find in other neighborhoods. If the luxury homes aren’t extraordinary enough to entice you, then it is the job of the luxury community to do the remaining legwork of charming you to the point of no return.

It is the setting, provisions, ambience and resources offered by these master-planned Las Vegas luxury communities that distinguishes the area from other prestige communities found in major metropolitan cities across the U.S. These private gated communities offer a multitude of resort style features such as immaculately landscaped parks, world-class golf courses, elegant clubhouses, five-star gourmet dining, luxurious spa treatments, wellness centers and so much more!

Whether you’re relocating to Las Vegas or just looking to move to a different area in the city, it’s important to do your research on the different communities available to you. Live your daily life in convenience, comfort and style. Take a sneak peek into some of the finest Las Vegas luxury communities in the area.

Las Vegas Luxury Communities

THE RIDGES

The Ridges is arguably the most prestigious communities in all of Las Vegas. In fact, Forbes has named The Ridges as one of America’s most exclusive communities. Located in Summerlin, The Ridges is a completely guard-gated community featuring over 600 luxury homes within 9 different developments. The abundance of beautiful, custom homes here are set against a striking desert backdrop with dramatic mountain vistas all around. Meandering throughout the luxury neighborhoods is The Bear’s Best Championship Golf Course. Residents have access to a number of five-star amenities, including Club Ridges, a private community center with a resort-style swimming pool, fitness center, tennis courts and much more.

REDHAWK

Redhawk is one of the most coveted areas in the Master-Planned community of Summerlin. Located within the boundaries of Redhawk is the Bear’s Best Las Vegas golf course, designed by golf’s leading master himself, Jack Nicklaus. Redhawk also has its own neighborhood park and 82 high-end homes. Many of these luxury estates offer remarkable views of the Las Vegas strip and the beautifully landscaped golf course.

RIMROCK

If you’ve ever watched some of the luxury real estate shows on television, then you’ve likely seen a few of the extraordinary estates located in Rimrock. If luxurious homes with elevation and awe-inspiring views of mountains, canyons and the strip are your thing, then Rimrock is definitely a community to consider. This area offers spacious home sites and custom-built mansions and single family homes. The million dollar homes found in Rimrock are typically bigger than those found in other luxury neighborhoods throughout The Ridges. With just over 20 large home sites, the luxury estates of Rimrock offer residents a coveted sense of privacy and intimacy that is hard to find anywhere else.

CANYON FAIRWAYS

Canyon Fairways is a gated community located just a brisk walk from JW Marriott Resort and Spa and all the offerings of Summerlin. Nestled along the TPC Canyons golf course, this prestigious neighborhood offers residents aesthetically stunning views of lush emerald grass landscapes. If you’re an outdoors and recreational enthusiast, Canyon Fairways is located near the 70-acre linear park, Cottonwood Canyon, where open spaces, hiking trails and picnic areas abound. Luxury homeowners here can also take advantage of the large, 207,000 square foot business center known as the Canyons Center. The nearby commercial-retail center, Covington Cross, offers Canyon Fairways residents the convenience of fine dining and world-class shopping.

EAGLE HILLS

Also located in Summerlin, Eagle Hills offers a number of exquisite custom homes that boast exclusivity and quick access to great schools, shopping centers, parks and the fantastic Summerlin trail system. This gorgeous, tree-lined neighborhood is nestled in the Hills South village and is well known as a family-friendly community. Residents can take advantage of the great neighborhood parks here that are perfect for taking the kids or dogs to play. If you’re looking for a vibrant community that offers tons of recreational activities and fun for the whole family, Eagle Hills would be a great place for you to call home!

FALCON RIDGE

Looking to live in a neighborhood that allows you to enjoy breathtaking views of the strip, some onsite golf sessions and the ability to choose your own lots and a home that you would cherish to be the owner of? Falcon Ridge is a great place to start! This exquisite community offers elevated golf course estate homes. Located in the center of The Ridges and directly adjacent to Club Ridges, Falcon Ridge has over 60 customized homes ranging in price from approximately $2,500,000 to $7,500,000.

QUEENSRIDGE

Located on the western side of the Las Vegas Valley in the master planned community of Peccole Ranch is the stunning community called Queensridge. Often referred to as “Little Europe”, this neighborhood features enchanting European-style mansions that are truly magnificent. With brilliant views of the Badlands golf course and nearby Red Rock Canyon, Queensridge is perfect for those looking to live a remarkable life of luxury and comfort.

MOUNTAIN TRAILS

Mountain Trails truly lives up to its name with convenient access to the Summerlin luxury home community trail system and panoramic views of the surrounding the mountain range. Residents of this high-end neighborhood enjoy a number of great amenities including gorgeous parks, tennis courts, baseball and softball fields, as well as a private community swimming pool. Another family-friendly community, Mountain Trails is home to many fantastic private and public schools that rank among the best in Las Vegas.

MACDONALD HIGHLANDS

Located in Henderson, MacDonald Highlands is a vast stretch of 1200 acres of foothills offering striking views of the mountains, Las Vegas strip and the immaculately landscaped golf course. Surrounded by Dragon Ridge Golf Club, this luxury community features lavish amenities and resort-style homes that are immersed in picturesque natural beauty. Nestled in the mountains, this exclusive neighborhood rises 2700 feet above the south end of the Las Vegas valley, allowing residents to truly live “life at the top”.

SOUTHERN HIGHLANDS

With over 2,300 acres of residential neighborhoods, Southern Highlands is considered to be one of the most desirable Las Vegas luxury communities. This master-planned community is home to 7 different neighborhoods and over 350 high-end custom estates. The area also features 50 acres of community parks, beautiful lakes, running trails and plenty of lush landscaping. Southern Highlands has 3 separate guard-gated entrances, providing residents with the utmost in privacy and security. A plethora of luxury amenities also makes this community attractive to a number of prestigious buyers. Southern Highlands features the exclusive Southern Highlands Golf Club and Spa Southern Highlands, both of which are consistently ranked among the best in the country.

MACDONALD RANCH

This premier master-planned community sits in front of the breathtaking McCullough Mountains and affords residents some of the most stunning views of both the natural and urban beauty of Las Vegas. This community is actually located in neighboring town Henderson, but is just a 20 minute drive from the Las Vegas Strip. With two private golf courses and a multitude of amenities including the Desert Willow Clubhouse, a variety of shopping centers, fine dining and much more, MacDonald Ranch residents have everything they need to live the high life.

COUNTRY CLUB HILLS

Nestled in prestigious Summerlin is the spectacular community known as Country Club Hills. This exclusive, 24-hour guard-gated community is simply picturesque. Here you’ll find attractive tree-lined streets, beautiful landscaping and vibrant gardens bursting with color. Wrapped in the lush green of the premier TPC golf course, many residents of Country Club Hills enjoy fantastic views of the verdant green rolling hills. The homes here sit on spacious lots and range from 3,000-5,000 square feet. Most of the properties here are Christopher Built homes, one of the foremost luxury home builders in the area. Residents also have access to all the high-end luxury amenities you would expect from an elite community, including close proximity to The Trails Village Center shopping, the Summerlin Library and Performing Arts Center.

REDHAWK

As one of the largest neighborhoods in The Ridges (a highly coveted area in Las Vegas), Redhawk features a diverse collection of over 80 luxury home sites. Many of these properties feature gorgeous open floor plans ranging from 6,000 sq.ft to over 10,000 sq.ft. Since this neighborhood is centrally located within The Ridges, residents here have access to a plethora of luxury amenities, including facilities for tennis, swimming, fitness classes and much more. Its prime location also provides residents with some spectacular views of the Bear’s Best Golf course, The Strip and surrounding canyons.

ANTHEM

Anthem, while located in neighboring city Henderson, is just a quick 15 minute drive to The Las Vegas Strip. Henderson has actually been praised as one of the ‘Best Cities to Live in America’ by Money Magazine, and has been ranked as one of the top 10 safest cities in America. Within Anthem are 5 distinctive neighborhoods, some of which are age-restricted. However, Anthem Country Club, Anthem Coventry and Anthem Highlands are elegant residential villages that feature an array of stunning luxury homes, country clubs, private golf courses, beautiful parks and a number of other fantastic amenities and neighborhood programs.

CANYON GATE

Located within the master-planned community of Summerlin is the affluent, private community called Canyon Gate. This stunning golf course community is located about 8 miles west of the Las Vegas Strip, situated nearby the Red Rock mountains. Within this 24-hour guard-gated community are approximately 500 custom and semi custom homes that range from 2,000 to over 16,000 square feet. Canyon Gate is also home to a prestigious country club and golf club, both of which require membership. Members of this elite club have access to the utmost in luxury amenities, including tennis courts, swimming pool, Jacuzzi, steam room, a business center and much more.

SEVEN HILLS

Deep within the southern foothills of Henderson lies the beautiful community of Seven Hills. Stretching across 1,300 acres of land near the McCullough Mountain Range, Seven Hills features 25 distinct neighborhoods with around 3,000 homes and condos. A number of these homes are custom-built and guarded by intricate gated enclaves. The location of Seven Hills provides residents with unmatched views of the breathtaking vistas of both the skyline and the scenic mountain range. Residents here also have access to all the great amenities offered by the city of Henderson, including large city parks, athletic fields, miles of biking and walking trails and so much more.

LAKE LAS VEGAS

This resort-style, master-planned community is nestled in the pristine desert mountainside of Southern Nevada, just 17 miles from The Strip. It features a privately owned 320-acre lake with 10 miles of shoreline, award-winning golf courses, a number of casinos and hotels and a resort village full of unique shops and dining destinations. The homes here are designed around a Mediterranean theme, giving the community a charming atmosphere that feels a world away from the glitz and glam of downtown Las Vegas. Whether you’re looking for a stylish waterfront estate, a hilltop mansion or a low maintenance vacation home, Lake Las Vegas has it all.

ARROWHEAD AT THE RIDGES

Located in the southwestern area of Las Vegas is an exclusive neighborhood called Arrowhead at The Ridges. Centrally located in The Ridges Village, Arrowhead residents have access to all the wonderful services and amenities that this luxury community has to offer. The homes here sit on large lots that start at 2/3 of an acre, whereas lots in most other neighborhoods in The Ridges start at 1/2 an acre or smaller. The spacious lots here allow for some of the largest custom homes in the area.

THE PALISADES SUMMERLIN

The Palisades in Summerlin is a private, guard-gated community that is comprised of 131 semi-custom homes developed by Christopher Homes. Many of these beautiful properties are located along the stunning TPC golf course, giving residents inspiring views of the lush fairways and surrounding mountains. The real estate here is exquisite, with award-winning executive home models featuring a variety of different floor plans. Many of these luxury homes showcase elegantly designed courtyards with large privacy fences.

BELLACERE SUMMERLIN

Comprised of just 54 homes, this intimate community offers residents with the utmost in privacy and exclusivity. Featuring over-sized lots and a number of properties developed by Christopher Homes, real estate in Bellacere is highly sought after. Built into the rolling Tournament Players Club Golf Course, this community is known for its stunning, oasis-like environment and landscaping. As one of the newer private housing communities in Summerlin, Bellacere features its own unique personality and style with all custom homes designed to fit the needs of varying lifestyles.

SPANISH HILLS

Located in the southwestern region of Las Vegas is a prestigious community known as Spanish Hills. The homes here offer custom architecture, high security and easy access to The Strip, the airport and all the fantastic amenities of the Summerlin community. With a unique tiered road plan, residents of Spanish Hills are afforded elevated views of both the Red Rock Canyon and the sparkling downtown lights. This sprawling guard-gated community is made up of 1,200 homes spread across 100 acres.

SPANISH TRAIL

This 640 acre development was one of the first true private guard gated golf communities in Las Vegas. There are 11 different neighborhoods within this luxury master planned community, built around a 27-hole championship golf course. This private community hosts over 1,200 properties, offering a variety of custom and semi-custom homes. In addition to the expertly designed private golf course and Country Club, Spanish Trail offers a host of first-class amenities. Residents have access to a number of walking trails, lakes, outdoor recreation areas, tennis courts, pools, a fitness center and more.

TOURNAMENT HILLS

Tournament Hills is a master-planned community within Summerlin. This prestigious golf course community is located  along the TPC Summerlin Golf Course and  the homes here range in size from around 4,000 square feet to over 14,000 square feet. Residents are provided with stunning views of the immaculately landscaped course, the glittering lights of The Strip and the surrounding mountains.

SILVERSTONE RANCH

Silverstone Ranch is a newer development nestled at the base of the Sheep Mountain range, just 25 minutes from the Las Vegas Strip. This guard gated community is situated around the Silverstone Ranch Golf Club, a 27-hole course designed around different themes and skill levels (Mountain, Valley and Desert). Silverstone Ranch offers a variety of luxurious amenities that one would expect from a golf course community, including a 34,000-square-foot clubhouse, a fully stocked golf pro shop, driving range, golf school, picnic areas, recreational facilities, a full service restaurant and grill and more. The homes here include a mix of luxury estates and elegant townhomes, ranging in size from 1,400 to over 4,000 square feet.

SECTION 10

Section 10 is a fast growing community ideally located just 10 minutes from The Strip, 10 minutes from Summerlin and 15 minutes from the airport. This unique area caters to young professionals and families alike, featuring all custom homes on half acre or larger lots. The properties here largely feature contemporary styles and the community itself showcases an equally modern flair. The neighborhood is well known for its diverse and vibrant culture that offers residents a myriad of fantastic amenities and services.

GREEN VALLEY RANCH

Green Valley Ranch is a master-planned community located in Henderson just South of the mixed-use metropolitan community known as The District at Green Valley Ranch. Comprised of approximately 4,000 homes and condos spread across 1,300 acres, Green Valley Ranch features a mix of ranch-style homes and luxury estates. The homes here offer spectacular views of the Las Vegas lights and range in price from the mid $300,000′s to over $2,000,000.

Contact Us Today!

To learn more about some of the other fantastic Las Vegas luxury communities in the area, call Unique Opportunity Real Estate agent Philip Physioc today. As one of the High End Luxury realtors in Las Vegas, Philip specializes in the prestigious communities discussed above. If you’re looking to buy or sell a home in one of these fantastic neighborhoods…

Call (702) 822-0237

Contact:

Philip Physioc 

Choice One Properties & Management

7465 W. Lake Mead Blvd.,Suite 100

Las Vegas NV 89128

Cell: (702) 822-0237

Email: psp112005@yahoo.com

www. UniqueOpportunityRealEstate. com